Stephen Fredette - 01 May 2023 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Co-President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Stephen Fredette
Issuer symbol
TOST
Transactions as of
01 May 2023
Net transactions value
-$19,065
Form type
4
Filing time
03 May 2023, 16:39:26 UTC
Previous filing
20 Apr 2023
Next filing
30 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +3,521 +0.11% 3,318,409 01 May 2023 Direct F1
transaction TOST Class A Common Stock Sale $19,065 -1,111 -0.03% $17.16 3,317,298 02 May 2023 Direct F2
holding TOST Class A Common Stock 37,500 01 May 2023 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2,303,442 01 May 2023 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 419,991 01 May 2023 By the SHFA Family Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TOST Restricted Stock Units Options Exercise $0 -3,521 -8.3% $0.000000 38,731 01 May 2023 Class A Common Stock 3,521 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
F2 Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.
F3 The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.

Remarks:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 25,972,670 shares of the Class B common stock of the Issuer. Each share of Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.